Immobiliare Grande Distribuzione SIIQ S.p.A (IGD) Fair Value & Analysis
Real Estate · IT · Market cap €485M
Fair value as of: Jul 26, 2026
From 13 valuation models · updated 15 days ago
Share price +0.5% over the past month.
A solid business, screening 21% undervalued on our models.
What matters now
- Solid quality (58/100) at a price below fair value, the discount is the argument here, not the business quality.
- As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 26, 2026.
How to read this chart
60‑month range €1.31 – €4.55 · fair‑value band €3.70 – €4.93 · the €4.08 price screens below the €4.93 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 26, 2026.
Analysis
Immobiliare Grande Distribuzione SIIQ S.p.A (IGD) currently trades at €4.08, while our model-based Fair Value estimate is €4.93, implying the stock looks roughly 20.8% undervalued today. The Quality Score stands at 58/100 (solid quality), in the Real Estate sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.
Over the trailing twelve months, Immobiliare Grande Distribuzione SIIQ S.p.A generated revenue of €141M at a net margin of 25.6%. Revenue grew 1.0% year over year. It earns a return on equity of 3.7%. Net debt stands at €773M. Fundamentals as of Jul 26, 2026
Our scenario range runs from €3.70 (bear case) to €4.93 (bull case); at €4.08, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 11% below its 52-week high and 44% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -53% fair-value upside, at 21%, IGD screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 13 models by family
Widest divergence: Asset-Based (€6.03) versus DCF Models (€0.3500). Highest evidence: Residual Income (76).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 26, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 55 · Market factors (momentum, volatility) 64
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Immobiliare Grande Distribuzione SIIQ S.p.A. is a key player in Italy's retail real estate sector. IGD owns a rich portfolio of shopping centres located throughout Italy, which are managed by in-house asset, property, facility and leasing management divisions. IGD also acts as a service provider, managing portfolios of institutional third parties.
Full company description
Immobiliare Grande Distribuzione SIIQ S.p.A. is a key player in Italy's retail real estate sector. IGD owns a rich portfolio of shopping centres located throughout Italy, which are managed by in-house asset, property, facility and leasing management divisions. IGD also acts as a service provider, managing portfolios of institutional third parties. An extensive domestic presence, a solid financial structure, the ability to plan, monitor and manage all phases of a center's life cycle, both freehold and leasehold, as well as ongoing investments in retail and technology innovation, ensure IGD's position as a point of reference in the retail real estate sector. The Company, listed on Borsa Italiana's STAR segment, was the first SIIQ (Società di Investimento Immobiliare Quotata or real estate investment trust) in Italy. IGD's freehold portfolio, valued at more than 1,704.8 million euros at 31 December 2025, includes 8 hypermarkets and supermarkets, 25 shopping malls and retail parks in Italy and a portfolio of shopping centres in 8 Romanian cities, which are managed directly based on the same model used in Italy. The Company also holds 40% of two real estate funds which are comprised of 13 hypermarkets, 4 supermarkets and 2 shopping malls for which IGD manages project, property & facility management activities. Immobiliare Grande Distribuzione SIIQ S.p.A. was incorporated in 1977 in Italy.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Immobiliare Grande Distribuzione SIIQ S.p.A reported revenue of €141M in FY2025 versus €146M in FY2021, a compound −0.8%/yr. Reported net income was €32.0M in FY2025, compounding −11.8%/yr from FY2021.
Watch IGD: get an alert when its fair value changes →
Peer Group
REIT - Retail · 107 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs REIT - Retail median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more REIT - Retail stocks, each showing price versus our Fair Value estimate (as of Jul 26, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Simon Property Group SPG | $229.78 | $86.11 | -63% |
| Realty Income Corporation O | $65.60 | $30.71 | -53% |
| Unibail-Rodamco-Westfield SE URW | €103.65 | €101.67 | -2% |
| Kimco Realty Corporation KIM | $26.10 | $12.60 | -52% |
| CapitaLand Integrated Commercial Trust (CICT or the Trust) C38U | 2.47 SGD | 0.9100 SGD | -63% |
| Scentre Group SCG | A$3.93 | A$3.34 | -15% |
| Regency Centers Corporation REG | $82.15 | $33.69 | -59% |
| Link Real Estate Investment Trust (Link REIT) 0823 | HK$39.22 | HK$41.98 | +7% |
| Federal Realty Investment Trust FRT | $126.08 | $41.96 | -67% |
| Brixmor Property Group BRX | $32.44 | $13.18 | -59% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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